NICE Provides Voice Authentication for Vietnam’s VPBank

Another Vietnamese bank has adopted NICE’s Real Time Authentication (RTA) platform. NICE RTA is a voice biometrics offering designed to prevent fraud and improve the user experience for those calling in to contact centers.

To that end, NICE RTA is able to verify someone’s identity based on only a few seconds of natural conversation. NICE previously delivered the solution for an unnamed Vietnamese bank in 2019, and will now be doing the same for the Vietnam Prosperity Joint-Stock Commercial Bank (VPBank), which will be integrating NICE RTA into its existing contact center platform.

Customers interested in using the service will only need to register a single voiceprint, and will then be able to take advantage of NICE RTA to prove their identities across multiple contact center and mobile channels. VPBank, meanwhile, is hoping that the solution will help lower its administrative costs. The platform’s Interactive Voice Response (IVR) technology will minimize the number of calls that need to get routed to a live agent, and reduce the average call time by as much as 20 to 30 seconds.

VPBank currently fields calls from 10,000 customers per day, and processes more than 5 million interactions on an annual basis. NICE RTA itself comes with case management and reporting features to make the platform more user-friendly for administrators.

“Accurate, transparent and quick authentication is crucial to efficient bank processes as well as an investment in positive customer experiences and loyalty,” said VPBank Contact Center Head Tran Thi Lien. “Our customers deserve a proven authentication solution that efficiently and seamlessly safeguards their interests.”

“The financial services industry is facing a growing need to take measures against fraud in the ever-expanding area of digital commerce,” added NICE APAC President Darren Rushworth. “We’re proud to help VPBank stay on the cutting edge of innovative capabilities to safeguard customers and their business.”

Alfa-Bank Russia and Permata Bank are some of the other financial institutions that have deployed NICE RTA in the past few years. More recently, the UK Customer Service Excellence Awards recognized NICE with the top prize in the ‘Fight Against Fraud’ category for 2021, citing NICE RTA a key factor in its decision.

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April 29, 2021 – by Eric Weiss